Module property

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MODULE 8 PROPERTY
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Property law entails laws that govern ownership, change of ownership whether temporal or permanent and use and limitations in property use. The law provides guidelines and mechanism for property ownership and property purchase , (Smith, 2009).
Bailment is where personal property’s custody, care and control are shifted from one person to another through an agreement called contract of bailment. The agreement is that only authority over the property is shifted and not ownership. The actual owner is called the bailor and the person getting authority over the property a baillee, (Smith, 2009). Depending on the contract agreement the baillee may shoulder any liabilities that may arise while the property is in his custody. At times the baillee is paid for custody of the property. The bailment contract should clearly show the type of bailment. Bailment is of different categories based on liabilities and rights of the parties involved. The three categories include bailment for mutual benefit, bailment for the baillee benefit and lastly bailment for the bailors benefit, (Smith, 2009).
Bailment is an everyday occurrence. For instances living the automobiles under custodian of the mechanic, living clothes with the laundry person, taking valuables for warehouse storage, loaning a vehicle to person, bonds left with a financier. At all this instances the receipt should include details of the bailment and the degree of bailment. For instance when loaning a vehicle to a person you should include whether the person is liable for any damage that may occurs while in possession of the vehicle.
Eminent domain is where by the government takes an individual land for state use or to give it to a private owner whose intentions are for the public but without any compensation for the land, (Smith, 2009).
I think as much as the land is being seized for public use or state use leaving



References: Lewis, J. P. (2007). Land use controls and property rights: A guide for real estate professionals. Loveland, Colo: Land Use Publications. Rapalje, S., & Lawrence, R. L. (1997). A dictionary of American and English law, New Jersey: Lawbook Exchange. Smith, R. J. (2009). Property law. Harlow, England: Pearson Longman.

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